Creating a realistic home renovation budget
You’ve decided it’s time to finally explore the extensive home renovation project you’ve dreamed about. You have a pretty good idea of what you want, you’ve pored over countless websites like Houzz, Wayfair, and created a Pinterest board with pictures of design ideas you like. You’ve put together a list of must haves and maybe even a sketch of what your renovated kitchen or expanded family room, updated master suite, or other project will look like. You have a budget in mind for what you think it will all cost and what you are comfortable spending.
Now it’s time to consult with a builder to get an idea if your home renovation budget fits your dreams. That’s when the fun begins.
For anyone who has watched any of the home improvement reality television shows, you may think the perfect home remodeling project can be done in a few weeks for an unreasonable amount of money. Though they are called reality show, they present home renovation projects in an unrealistic way.
A realistic example can be seen on the TV show, Love It or List It. Each program showcases a couple living in a house that simply doesn’t work well for their family anymore. One person wants to move, the other want to do some extensive renovations and stay. The couple always has a firm budget in mind, and no matter what the budget, the couple always has to compromise on the renovations that can actually be done.
Get ready for hard choices
Every home renovation project begins with a laundry list of the changes the homeowners would like to make to their home. The challenge is to balance those dreams with the reality of what makes sense within the available budget. It often comes down to some really hard choices once your builder gives you an idea of the budget needed to complete the renovations you want. Do you go with the dedicated home office for one spouse or the combination first-floor laundry/mudroom that will make life easier for the other? Unfortunately, the choices do often come down to pleasing one person over the other.
On top of that, you really have to pay attention to what makes sense and is worth the money for your particular house in your neighborhood. If the cost wildly exceeds the actual return on the investment you are making in your home, is it really worth it to do that renovation over another choice that would increase the market value and ultimately pay you back?
It’s also really common for a project to start off with either a necessary repair that snowballs into “if we are doing that, maybe it’s a good time to do this, and that, and this.” Most homeowners don’t have an unlimited pot of money. Consulting with a professional builder will help you truly understand what your budget will allow before your dreams go out of bounds.
As close to 100% as possible
When you engage Scholl Construction as your builder, you will have a partner to help you understand the costs of the home renovation you are considering. We will guide you through every step of the process, from finding the right architect and designer to helping you understand the costs of the options they propose, so you can keep your project, budget and dreams on track.
You’ll be able to rely on our experience to give you ideas to streamline and enhance your project to provide you with the must-have options on your list. At the same time, we can help you ensure the renovations are in line with what makes sense for your particular home, neighborhood and, more importantly, your wallet.
Through it all, we will provide you with a realistic, comprehensive budget so that, when it’s all said and done, you will be able to enjoy your home like never before.
Are you ready to turn your dreams into reality? You can trust Scholl Construction to listen to your needs and understand your vision for your residential or commercial building project. Call Scholl Construction at 815-479-0910, or contact us online to get started.